tomclare
18th August 2009, 01:53
Buffoon – or was He?
It seems incredible that it is now 20 years ago today (18 Aug 1989), on what was the opening day of the 1989/90 season, that Michael Knighton emerged from the old player’s tunnel at Old Trafford, resplendent in United track suit top and playing kit, and jogged towards the already packed Stretford End, juggled a football on his head and then his feet, before smashing it into the goal. He then stood there, arms raised aloft, acknowledging the fan’s cheers which rolled down the terracing. I wonder today, how many of the people who were present inside Old Trafford that sunny afternoon, really knew who Michael Knighton was, or could ever have envisaged just what an impact he was going to have on the future of Manchester United Football Club?
It also seems incredible that Martin Edwards was ready to sell his controlling interest in the club for a paltry 10 million pounds. But then again, nothing that Edwards ever did regarding money and Manchester United, should have ever surprised anybody – as long as there was a quick profit from it for him. That Knighton didn’t succeed was down to a number of factors and none of these concerned Martin Edwards. As Knighton was to say later on; “He was desperate to sell, desperate for my cash.” He wanted to give Knighton his half a million shares for 20 pounds per share – in effect he wanted 10 million pounds and he’d leave Old Trafford for good. It was widely reported that the Knighton deal fell through because he didn’t have the money. That was untrue. He actually did have more than double the amount required to purchase Manchester United in the form of a 24 million pounds overdraft from the Royal Bank of Scotland. What actually stopped the deal going ahead was all the ill-informed, adverse, and hostile media publicity that surrounded his proposed deal. That adverse comment persuaded his two main allies, Robert Thornton, the former Debenham’s chief, and Stanley Cohen of Parker Pens, to withdraw their support after initially agreeing to take 40% of Knighton’s proposed holdings off him. Once news of their involvement became public knowledge, they backed away. There was also unrest in the United boardroom about the proposed sale and Edwards came under pressure not to go ahead with it. Knighton could have forced his hand – he had a signed legitimate agreement – he could have forced the deal through. However, under the pressure and spotlight of all the adverse publicity surrounding the deal – he simply withdrew his offer….. in return for 30,000 shares and a place on the Manchester United board!
Michael Knighton was a former school teacher, and erstwhile small time business man. Say what you will about Knighton, but he was one of the first people to see that there was money to be made out of football clubs. Prior to making known his plans to buy Manchester United, he had made quite an intensive study, the findings of which showed to him that by financially exploiting fans through their emotional attachment to their clubs, it was possible to make a whole lot of money through exploiting and merchandising that emotional attachment. He also foresaw that there were enormous amounts of revenue to be made from future television deals. Contrary to popular belief, Michael Knighton was far from the “dumbass” that he was so freely perceived to be around that time! He was actually quite astute.
Knighton stayed at Manchester United for 3 years. He was always there “under tolerance” so to speak, but say what you will, it was his ideas about “exploiting a captive market” that plunged not only Manchester United Football Club, but football itself, into a whole new era – that of commercial exploitation! Edwards took on board most of Knighton’s ideas, particularly that of “maximizing the brand” and over one hundred years of innocence, and history, of Manchester United being a football club went down the pan. From the moment Knighton’s ideas were embraced, Manchester United ceased to be what it was and became a money making corporation, and other club’s followed their lead, changing the face of English football forever.
Buffoon, idiot? Make your own mind up.
It seems incredible that it is now 20 years ago today (18 Aug 1989), on what was the opening day of the 1989/90 season, that Michael Knighton emerged from the old player’s tunnel at Old Trafford, resplendent in United track suit top and playing kit, and jogged towards the already packed Stretford End, juggled a football on his head and then his feet, before smashing it into the goal. He then stood there, arms raised aloft, acknowledging the fan’s cheers which rolled down the terracing. I wonder today, how many of the people who were present inside Old Trafford that sunny afternoon, really knew who Michael Knighton was, or could ever have envisaged just what an impact he was going to have on the future of Manchester United Football Club?
It also seems incredible that Martin Edwards was ready to sell his controlling interest in the club for a paltry 10 million pounds. But then again, nothing that Edwards ever did regarding money and Manchester United, should have ever surprised anybody – as long as there was a quick profit from it for him. That Knighton didn’t succeed was down to a number of factors and none of these concerned Martin Edwards. As Knighton was to say later on; “He was desperate to sell, desperate for my cash.” He wanted to give Knighton his half a million shares for 20 pounds per share – in effect he wanted 10 million pounds and he’d leave Old Trafford for good. It was widely reported that the Knighton deal fell through because he didn’t have the money. That was untrue. He actually did have more than double the amount required to purchase Manchester United in the form of a 24 million pounds overdraft from the Royal Bank of Scotland. What actually stopped the deal going ahead was all the ill-informed, adverse, and hostile media publicity that surrounded his proposed deal. That adverse comment persuaded his two main allies, Robert Thornton, the former Debenham’s chief, and Stanley Cohen of Parker Pens, to withdraw their support after initially agreeing to take 40% of Knighton’s proposed holdings off him. Once news of their involvement became public knowledge, they backed away. There was also unrest in the United boardroom about the proposed sale and Edwards came under pressure not to go ahead with it. Knighton could have forced his hand – he had a signed legitimate agreement – he could have forced the deal through. However, under the pressure and spotlight of all the adverse publicity surrounding the deal – he simply withdrew his offer….. in return for 30,000 shares and a place on the Manchester United board!
Michael Knighton was a former school teacher, and erstwhile small time business man. Say what you will about Knighton, but he was one of the first people to see that there was money to be made out of football clubs. Prior to making known his plans to buy Manchester United, he had made quite an intensive study, the findings of which showed to him that by financially exploiting fans through their emotional attachment to their clubs, it was possible to make a whole lot of money through exploiting and merchandising that emotional attachment. He also foresaw that there were enormous amounts of revenue to be made from future television deals. Contrary to popular belief, Michael Knighton was far from the “dumbass” that he was so freely perceived to be around that time! He was actually quite astute.
Knighton stayed at Manchester United for 3 years. He was always there “under tolerance” so to speak, but say what you will, it was his ideas about “exploiting a captive market” that plunged not only Manchester United Football Club, but football itself, into a whole new era – that of commercial exploitation! Edwards took on board most of Knighton’s ideas, particularly that of “maximizing the brand” and over one hundred years of innocence, and history, of Manchester United being a football club went down the pan. From the moment Knighton’s ideas were embraced, Manchester United ceased to be what it was and became a money making corporation, and other club’s followed their lead, changing the face of English football forever.
Buffoon, idiot? Make your own mind up.